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REGISTERED NUMBER: 11822976 (England and Wales)











Financial Statements

for the Year Ended 28 February 2023

for

EXCELLENCE ESTATES LTD

EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976)






Contents of the Financial Statements
for the Year Ended 28 February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


EXCELLENCE ESTATES LTD

Company Information
for the Year Ended 28 February 2023







DIRECTOR: Mr A Coric





REGISTERED OFFICE: 42 Lytton Road
Barnet
Hertfordshire
EN5 5BY





REGISTERED NUMBER: 11822976 (England and Wales)





ACCOUNTANTS: Jeff Lermer & Associates
Chartered Accountants
42 Lytton Road
Barnet
Hertfordshire
EN5 5BY

EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976)

Balance Sheet
28 February 2023

28.2.23 28.2.22
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1 1
Investment property 5 590,178 550,253
590,179 550,254

CURRENT ASSETS
Debtors 6 - 157
Cash at bank 6,420 17,723
6,420 17,880
CREDITORS
Amounts falling due within one year 7 145,236 109,027
NET CURRENT LIABILITIES (138,816 ) (91,147 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

451,363

459,107

CREDITORS
Amounts falling due after more than one year 8 (417,233 ) (417,233 )

PROVISIONS FOR LIABILITIES 11 (7,169 ) (7,169 )
NET ASSETS 26,961 34,705

CAPITAL AND RESERVES
Called up share capital 12 2,002 2,002
Other reserves 13 30,562 30,562
Retained earnings 13 (5,603 ) 2,141
SHAREHOLDERS' FUNDS 26,961 34,705

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976)

Balance Sheet - continued
28 February 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 February 2024 and were signed by:





Mr A Coric - Director


EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976)

Notes to the Financial Statements
for the Year Ended 28 February 2023

1. STATUTORY INFORMATION

Excellence Estates Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. FIXED ASSET INVESTMENTS
Interest
in other
participating
interests
£   
COST
At 1 March 2022
and 28 February 2023 1
NET BOOK VALUE
At 28 February 2023 1
At 28 February 2022 1

EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2022 550,253
Additions 39,925
At 28 February 2023 590,178
NET BOOK VALUE
At 28 February 2023 590,178
At 28 February 2022 550,253

Fair value at 28 February 2023 is represented by:
£   
Valuation in 2021 37,731
Cost 552,447
590,178

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Prepayments and accrued income - 157

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
28.2.23 28.2.22
£    £   
Trade creditors - 2,407
Amounts owed to participating interests 77,240 58,740
Other creditors 1,730 -
Directors' current accounts 64,765 46,781
Accruals and deferred income 1,501 1,099
145,236 109,027

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
28.2.23 28.2.22
£    £   
Bank loans (see note 9) 207,233 207,233
Directors' loan accounts 210,000 210,000
417,233 417,233

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 207,233 207,233

EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

9. LOANS

An analysis of the maturity of loans is given below:

28.2.23 28.2.22
£    £   
Amounts falling due in more than five years:
Repayable by instalments
Bank loans more 5 yr by instal 207,233 207,233

10. SECURED DEBTS

The following secured debts are included within creditors:

28.2.23 28.2.22
£    £   
Bank loans 207,233 207,233

Bank loans of £207,233 are secured by fixed and floating charge against related investments.

11. PROVISIONS FOR LIABILITIES
28.2.23 28.2.22
£    £   
Deferred tax 7,169 7,169

Deferred
tax
£   
Balance at 1 March 2022 7,169
Balance at 28 February 2023 7,169

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 28.2.23 28.2.22
value: £    £   
1 A Ordinary £1 1 1
1 B Ordinary £1 1 1
1,000 C Ordinary £1 1,000 1,000
1,000 D Ordinary £1 1,000 1,000
2,002 2,002

13. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 March 2022 2,141 30,562 32,703
Deficit for the year (7,744 ) (7,744 )
At 28 February 2023 (5,603 ) 30,562 24,959

EXCELLENCE ESTATES LTD (REGISTERED NUMBER: 11822976)

Notes to the Financial Statements - continued
for the Year Ended 28 February 2023

14. RELATED PARTY DISCLOSURES

As at the balance sheet date, included in creditors due within one year is £64,765 (2022 : £46,781) due and payable to the director. The amount is repayable on demand.

As at the balance sheet date, included in creditors due within more than one year is £210,000 (2022 : £210,000) due and payable to the director. The amount is repayable on demand.

As at the balance sheet date, included in creditors due within one year is £77,240 (2022 : £58,740) due and payable to Cor Logistics Limited, a company under common control.

15. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr A Coric.